Zacks Investment Research cut shares of Multi-Color (NASDAQ:LABL) from a hold rating to a sell rating in a report released on Saturday.
According to Zacks, “Multi-Color is one of the largest producers of printed labels for branded consumer products in the United States. Labels printed by the Company appear principally on mass-marketed products for which label appearance is a significant element of product marketing and merchandising. Multi-Color produces labels for a variety of consumer products including liquid detergents, fabric softeners, food products, liquid cleaners, anti-freeze and chewing gum. “
LABL has been the subject of several other reports. Robert W. Baird reaffirmed a hold rating and set a $80.00 target price on shares of Multi-Color in a report on Friday, November 10th. BidaskClub lowered Multi-Color from a sell rating to a strong sell rating in a report on Friday, December 15th. BMO Capital Markets reaffirmed a hold rating and set a $88.00 target price on shares of Multi-Color in a report on Wednesday, October 25th. Finally, Hilliard Lyons raised Multi-Color from a neutral rating to a buy rating in a report on Monday, January 8th. Three equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and one has assigned a buy rating to the stock. Multi-Color presently has an average rating of Hold and an average price target of $76.75.
Multi-Color (NASDAQ:LABL) last posted its earnings results on Tuesday, February 6th. The business services provider reported $0.71 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.72 by ($0.01). The company had revenue of $352.70 million for the quarter, compared to the consensus estimate of $346.37 million. Multi-Color had a net margin of 6.08% and a return on equity of 13.02%. The firm’s revenue for the quarter was up 67.4% compared to the same quarter last year. During the same period last year, the company posted $0.70 earnings per share. sell-side analysts predict that Multi-Color will post 3.71 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, March 1st. Stockholders of record on Thursday, February 15th will be issued a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a dividend yield of 0.30%. The ex-dividend date is Wednesday, February 14th. Multi-Color’s dividend payout ratio (DPR) is presently 5.35%.
In related news, Director Robert R. Buck sold 9,530 shares of the stock in a transaction that occurred on Wednesday, December 13th. The stock was sold at an average price of $72.06, for a total value of $686,731.80. Following the completion of the transaction, the director now directly owns 17,441 shares of the company’s stock, valued at approximately $1,256,798.46. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 19.40% of the stock is currently owned by corporate insiders.
Hedge funds have recently modified their holdings of the stock. TIAA CREF Investment Management LLC grew its holdings in Multi-Color by 2.9% in the 2nd quarter. TIAA CREF Investment Management LLC now owns 36,387 shares of the business services provider’s stock worth $2,969,000 after buying an additional 1,040 shares in the last quarter. Prudential Financial Inc. grew its holdings in Multi-Color by 22.3% in the 3rd quarter. Prudential Financial Inc. now owns 27,703 shares of the business services provider’s stock worth $2,270,000 after buying an additional 5,050 shares in the last quarter. Ameriprise Financial Inc. grew its holdings in Multi-Color by 3.2% in the 3rd quarter. Ameriprise Financial Inc. now owns 71,340 shares of the business services provider’s stock worth $5,846,000 after buying an additional 2,240 shares in the last quarter. Parametric Portfolio Associates LLC grew its holdings in Multi-Color by 45.4% in the 2nd quarter. Parametric Portfolio Associates LLC now owns 31,099 shares of the business services provider’s stock worth $2,538,000 after buying an additional 9,714 shares in the last quarter. Finally, Pictet Asset Management Ltd. grew its holdings in Multi-Color by 48.3% in the 3rd quarter. Pictet Asset Management Ltd. now owns 170,151 shares of the business services provider’s stock worth $13,944,000 after buying an additional 55,428 shares in the last quarter. 63.63% of the stock is owned by institutional investors and hedge funds.
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Multi-Color Corporation (Multi-Color) is engaged in label solutions business, supporting brands, including producers of home and personal care, wine and spirit, food and beverage, healthcare and specialty consumer products. The Company serves international brand owners in North, Central and South America, Europe, Australia, New Zealand, South Africa and China and Southeast Asia with a range of label technologies in Pressure Sensitive, Glue-Applied (Cut and Stack), In-Mold, Shrink Sleeve and Heat Transfer.
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